Monday, March 9, 2009

Tough economic times ahead

Yes, everyday we read in the newspapers about the gloom and doom ahead. Times are bad, more jobs will be lost, unemployment will reach an all time high, etc

So what are we doing about it??

Should we be cutting down on expenditure? There is a school of thought that says that if we do cut down on our expenditure, the result will definitely be a recession? Why? People spend less, business make less, and that may result in laying off staff, and that in turn will result in people losing jobs and not having the money to spend. And a downward spiral will result with the economy going into a tailspin.

So to cut or not to cut expenditure. If we do not, and the unexpected happens, then we will be in trouble. Especially since hubby works in the sector where they are viewed with suspicion, and in an area where many have lost jobs. So for my family, I guess, we should try to cut back.

As for me, I am basically a low maintenance person. I hardly spend on cosmetics. I rarely buy expensive clothess - I dress very simply. Things like petrol, which takes up a big portion of our budget, are non-negotiables for me ~ I have to fetch my kids!!

The biggest expenditure for my family would be food. That is something we do not stinge on, in fact sometimes I think we spend a bit too much over there. But it is something my hubby enjoys. So in appreciation for the hard work he puts in all week to bring home the bacon, we are definitely not cutting down in that area.

In fact, I am generally fairly careful with most of my expenditure. So how? I guess my little luxuries will have to go ~ the not so often foot reflex session, or the infrequent massage and pedicure. I will have to stretch my hair colouring to maybe once in 10 to 12 weeks instead of the usual 8 weeks.

One more, just hopped over from another blog talking about the polyclinic being opened at night!

And ... go to the government clinics instead of private ones. Which I think I have only the luxury to do so when I retire. I have said many a time that when I retire, I would pick a book, a reading glass and sit at government clinics' waiting room and wait patiently for my number to be called.

not easy, not easy at all... we are already quite pared down as it is, and I wait for sales to shop for the kids' clothes and sometimes do manage to get some really good bargains, like few dollars for a top or bottom! and walmart and target works just fine, without having to go for anything over the top.

but you're right that if we curb our individual spending, it's not going to help the economy to pick up.